Peter I Island is a municipality of the OgnianState of Ikranar. Prior to its admission to Ikranar in 1975, it was a Norwegian Overseas Territory, but the Norwegian Government transferred it to Ognia a few weeks after Ikranar gained statehood. Peter I Island is the only area of Ognia to have ever been under Norwegian control.

As a result of the long period Norwegian occupation, the Island has a significant ethnic Norwegian population, and the majority of the population speak Norwegian as either a first or second language. This has resulted in Norwegian being a co-official language of the municipality (though it is not official in the rest of Ikranar, or elsewhere in Ognia).